Is Entrepreneurship for You

Is Entrepreneurship for You

SHOULD YOU BE AN ENTREPRENEUR?

There are strong internal drivers that compel people to create their own business. Daniel Isenberg has developed a 2-minute Isenberg Entrepreneur Test to help you find out. Tick the box if you agree with the statement. Be honest with yourself. Remember the worst lies are the ones we tell ourselves.

ENTREPRENEURIAL DNA

 

Have you got what it takes to be a successful entrepreneur?

  • Successful entrepreneurs have an unwavering, total belief in themselves and never allow anyone or anything to dispel that belief.
  • Entrepreneurs are self-motivated; they don't need anyone or anything other than their goals to motivate them.
  • Successful entrepreneurs are not people who never fail but all successful entrepreneurs have the capacity to bounce back after failure. Most will talk about their failures as part of their learning curve.
  • Entrepreneurs are driven by a manic need to succeed. This can take the form of money, recognition, fame or power.
  • Successful entrepreneurs are the world's worst losers. They have to win at all costs.
  • Entrepreneurs are decisive, they take risks, they act impulsively on gut feelings.
  • The most successful entrepreneurs know their limitations and surround themselves with people who have the skills they lack.
  • Entrepreneurs are driven and focused on their sales targets at all times.
  • Successful entrepreneurs are prepared to make personal sacrifices in order to succeed.
  • Entrepreneurs are intuitive, recognising niche markets and business opportunities that others fail to see.
  • The most successful entrepreneurs are multi-taskers with the capacity to cope and deal with several ideas and projects at one time.
  • Entrepreneurs are organised, not necessarily on paper but in their heads and able to maintain information and monitor progress at all times.
  • Entrepreneurs make things happen, they do not spend their time dreaming about success. They get an idea and act swiftly.
  • Entrepreneurs do not recognise limits of boundaries, they set high targets, achieve them and set further goals. They are never satisfied no matter their level of success.
  • Successful entrepreneurs are determined to succeed no matter what it takes.
  • Entrepreneurs are persistent and able to endure rejection and setbacks.
  • The most successful entrepreneurs do their research to ensure they have the answers before problems arise.
  • Entrepreneurs are open-minded and prepared to listen and learn from everyone.
  • Successful entrepreneurs are professional in their approach to business at all times.
  • The most successful entrepreneurs never stop thinking about business, ideas and business opportunities.

20 Questions Before Starting

So you’ve got what it takes to be an entrepreneur? Now, ask yourself these 20 questions to make sure you’re thinking about the key business decisions:

  1. Why am I starting a business?
  2. What kind of business do I want?
  3. Who is my ideal customer?
  4. What products or services will my business provide?
  5. Am I prepared to spend the time and money needed to get my business started?
  6. What differentiates my business idea and the products or services I will provide from others in the market?
  7. Where will my business be located?
  8. How many employees will I need?
  9. What types of suppliers do I need?
  10. How much money do I need to get started?
  11. Will I need to get a loan?
  12. How long will it take before my products or services are available?
  13. How long do I have until I start making a profit?
  14. Who is my competition?
  15. How will I price my product compared to my competition?
  16. How will I set up the legal structure of my business?
  17. What taxes do I need to pay?
  18. What kind of insurance do I need?
  19. How will I manage my business?
  20. How will I advertise my business?